XML 29 R14.htm IDEA: XBRL DOCUMENT
v3.8.0.1

DEBT | 3 Months Ended
--- | ---
Mar. 31, 2018
Debt Disclosure [Abstract] |
DEBT | DEBT Debt outstanding at March 31, 2018 and December 31, 2017 was as follows:
|  | March 31, 2018 |  | December 31, 2017
|  | (In millions)
Commercial paper |  | $ | 485.7 |  |  | $ | 562.6 |
Revolver |  | 100.0 |  |  | 100.0 |
Term Loan, due Nov 2018 |  | 400.0 |  |  | 400.0 |
Notes, 2.30%, due June 2021 |  | 500.0 |  |  | 500.0 |
Notes, 3.30%, due Dec 2022 |  | 500.0 |  |  | 500.0 |
Notes, 3.25%, due June 2026 |  | 275.0 |  |  | 275.0 |
Debentures, 6.90%, due July 2028 |  | 125.0 |  |  | 125.0 |
Notes, 7.00%, due July 2037 |  | 250.0 |  |  | 250.0 |
Other |  | 2.8 |  |  | 2.7 |
Total debt |  | 2,638.5 |  |  | 2,715.3 |
Less short-term debt and current maturities |  | (888.5 | ) |  | (965.3 | )
Less unamortized discounts and debt issuance costs |  | (10.4 | ) |  | (11.0 | )
Total long-term debt, net |  | $ | 1,739.6 |  |  | $ | 1,739.0 |
Senior Credit Facilities. We are party to a $900.0 million five-year unsecured revolving credit facility (the "Revolver") and an $800.0 million three-year delayed draw term loan facility (the "Term Loan") (the Revolver and the Term Loan collectively, the "Senior Credit Facilities"), with a group of financial institutions. The Revolver also has an accordion feature that allows us to request an increase in the total commitment to $1.2 billion. Borrowings may be used for general corporate purposes, including working capital, capital expenditures, acquisitions and share repurchase programs. The Revolver and the Term Loan are scheduled to expire in November 2020 and November 2018, respectively. The Revolver includes an option to request a maximum of two one-year extensions of the maturity date. Availability of the Revolver for borrowings is reduced by the outstanding principal balance of our commercial paper notes and by any letters of credit issued under the facility. As of March 31, 2018, there were $15.5 million of letters of credit outstanding. As of March 31, 2018, there were $100.0 million outstanding borrowings under the Revolver and $298.8 million was available for borrowing. Commercial Paper Program. Our $900.0 million commercial paper program has been established through the private placement of commercial paper notes from time-to-time, in which borrowings bear interest at either a floating rate (based on LIBOR or other benchmarks), or a fixed rate, plus the applicable margin. Maturities of commercial paper can range from overnight to 397 days. Because the commercial paper ("CP") is backstopped by our Senior Credit Facilities, the amount of CP which may be issued under the program is reduced by the outstanding face amount of any letters of credit issued under the facility and, pursuant to our existing Board of Directors authorization, by the outstanding borrowings under our Revolver. At March 31, 2018, $485.7 million in commercial paper notes was outstanding. Receivables Funding Facility. In 2017, Equifax entered into a $225.0 million, 2-year receivables funding facility (the "Receivables Facility"), which matures in 2019. Under the Receivables Facility, Equifax and certain of its U.S. subsidiaries sell the eligible third-party receivables of its U.S. based business, to Equifax Receivables Funding LLC, a consolidated, wholly-owned, bankruptcy-remote subsidiary that may subsequently transfer, without recourse, an undivided interest in these accounts receivable to investors. The investors have no recourse to the Company’s other assets except for customary repurchase, warranty and indemnity claims. Creditors of Equifax do not have recourse to the assets of Equifax Receivables Funding LLC. The Receivables Facility contains standard representations, warranties and covenants made by Equifax and its U.S. subsidiaries in connection with the sale of the receivables, and any repurchase, warranty or indemnity obligations of the U.S. subsidiaries in connection with the sale of the receivables (but no obligations of Equifax Receivables Funding LLC) are guaranteed by Equifax. There were no borrowings under the Receivables Facility at March 31, 2018. The Receivables Facility was supported by $214.7 million of accounts receivable as collateral at March 31, 2018 which, as a retained interest, is included in accounts receivable, net in our Consolidated Balance Sheets. For additional information about our debt agreements, see Note 5 of the Notes to Consolidated Financial Statements in our 2017 Form 10-K.

X
- References No definition available. + Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
Name: | us-gaap_DebtDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration